Christopher J. Henneforth earned his MBA with a double major in investment management and corporate finance as well as a minor in accounting. This diverse background served Christopher J. Henneforth well as he transitioned from chief financial officer (CFO) to chief operating officer (COO) of Phusion Projects in the early 2010s.

He and other business experts note that many former CFOs accept a COO position on their way to higher administrative posts. As COOs, finance executives can expand their existing core skills and demonstrate general operational management competency to industry leaders and corporate stakeholders. Although it is rare for a CFO to jump directly to a CEO position at a new or outside company, the number of CFOs accepting an internal promotion to CEO is on the rise. In fact, Fortune Magazine reported that more than 8 percent of CFOs at US corporations accepted promotions to CEO during the first half of 2022. This number was even higher in the financial sector, in which 25.5 percent of CFOs became CEOs.